Military Education Department
Personal Financial Management (PFM)
PFM Contact Information
Darrell Himmelspach
dhimmels@sdccd.edu
Phone: 847-746-2790
Fax: 847-746-2791
Program ManagersContactsCurriculum How is your financial fitness?You can find out by taking the quizzes below
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Military Pay and EntitlementsThe Navy obligation to you is to pay you twice a month on the 1 st and 15 th of each month. If the pay date falls on a holiday or weekend, you will receive your pay on the workday prior to the payday.
In boot camp you had to open a Direct Deposit System (DDS) account. Your money is automatically transferred electronically from Defense Finance and Accounting (DFAS) to the Federal Reserve Bank and then transferred to your bank. The advantage to this is that your money is available to you on paydays and you have no lines to worry about at the bank trying to deposit a check. The DDS is a secure system and can be accessed by your dependants. You must establish and maintain an account in good standing and be aware of your balance at all times. To confirm your electronic transfers you can do one of three things.
DO NOT CHECK YOUR BALANCE AT AN ATM! The ATM is not accurate and may give you a false reading on your real balance.
From you DDS deposit you can further distribute your funds. You can arrange for automatic electronic transfers like a debit card. The debit card, when used, will take the money out of your checking account to pay for your purchase. You can also make allotments for electronic transfer like a car payment. The money comes out automatically and you never see it. When you do this though you need to be doubly aware of what your account balance is. Any allotment like that needs to be in place at least 60 days prior to when the payment is due. Types of Pay and Allowances
Your gross pay is what you get before taxes and other deductions. The net pay is what you get after everything is deducted. You will pay taxes on your base pay and special and incentive pays. Special and Incentive pays include:
Your allowances which are non-taxable can include:
Everyone gets a Basic Allowance for Housing (BAH) of some kind. You can draw up to three months of BAH to help you establish a residence at your new duty station. Especially if you need a 1 st and last months rent to move into a place. This advance must be paid back in what we like to call a dead horse. Different types of BAH are:
Your Basic allowance for subsistence (BAS) is a fancy term used for food. It’s based on where you are and nothing else. It is used when rations in kind are not available, when you’re authorized to mess separately, and when you receive partial BAS.
You clothing replacement allowance are for the maintenance of your uniforms. It is paid annually and is based on your years of service, gender, and extra or special uniform requirements. Women get more because their uniforms cost more. The extra or special uniform pays are for things like the Ceremonial Guard in Washington, Recruiters, and Boot Camp Company Commanders.
The Family separation allowance (FSA) is for members with dependants only. It must be restarted at each command and you must be separated from you dependants for at least 30 days.
Travel and moving allowances is money set aside for your Permanent Change of Station (PCS) or Temporary Additional Duty (TAD) assignments.
Your PCS allowance can be used for household goods shipment, temporary lodging expenses, vehicle mileage, and meals. For vehicle mileage you must make sure it says you are authorized to travel by private owned vehicle (POV) on your orders. You should check with your new command to see if you can even have a vehicle on station while you’re there. Some commands won’t allow vehicles on base if you’re below a certain rank.
Your TAD allowance can be used for transportation, lodging, per diem, and miscellaneous expenses. Transportation will be based on travel by POV or Air. Lodging will be based on living in the barracks, if available, or at a hotel. Per Diem is based on where you’re going and what the allowance is for that area. Miscellaneous expenses are for anything else you might have to pay for during this assignment. Travel specifics will be covered in detail by your transfer clerk.
A couple of other allowances are the Dislocation Allowance (DLA) and the Temporary Lodging Expense (TLE). The DLA is given to members for expenses incurred in relocating the member’s household on a PCS move. The TLE is intended to partially pay for lodging/meal expenses when a member and dependants occupy temporary quarters in conus due to a PCS move. The DLA and TLE apply to PCS moves only and you must qualify for the allowances. If there are any doubts, ASK!
There are several other different allotments or deductions which can come out of your pay check. Allotments:
Deductions:
Education BenefitsThe Montgomery GI Bill (MGIB) gives you money for going to school if you are serving on active duty. There are some restrictions on the MGIB so check it out. This program provides up to 36 months of education benefits, which may be used for degree and certificate programs, flight training, apprenticeship or on-the-job training, and correspondence courses. Generally, benefits are payable for 10 years following your release from active duty, date of program eligibility, or date of severance from the reserves/national guard. If you want more information on education benefits go to http://www.va.gov/ Pay Problems
Remember, this is your money. If you aren’t sure then ask questions! Sources of Help
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AssistanceCounselingIf you have questions or need assistance after graduating from the SDCC Military PFM course contact one of the counselors listed below:
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